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Canada's annual inflation rate unexpectedly held at 3.1% in November, according to the data released by Statistics Canada. The report lifted the Canadian dollar slightly against the U.S. dollar.
A hotter-than-expected inflation print reduces the chance of near-term Bank of Canada rate cuts, supporting the loonie and marginally tightening financial conditions for Canadian and US-linked commodity trade.
reuters.comIsmail ShakilDec 19, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
